Acc 401 Week 10 Quiz

ACC 401 WEEK 10 QUIZ

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ACC 401 Week 10 Quiz,

ACC 401 Week 10 Quiz – Strayer

Chapter 14

Reporting for Segments and for Interim Financial Periods

1. A component of an enterprise that may earn revenues and incur expenses, and about which management evaluates separate financial information in deciding how to allocate resources and assess performance is a(n)

a. identifiable segment.

b. operating segment.

c. reportable segment.

d. industry segment.

2. An entity is permitted to aggregate operating segments if the segments are similar regarding the

a. nature of the production processes.

b. types or class of customers.

c. methods used to distribute products or provide services.

d. all of these.

3. Which of the following is not a segment asset of an operating segment?

a. Assets used jointly by more than one segment.

b. Assets directly associated with a segment.

c. Assets maintained for general corporate purposes.

d. Assets used exclusively by a segment.

4. SFAS No. 131 requires the disclosure of information on an enterprise’s operations in different industries for

1. each annual period presented.

2. each interim period presented.

3. the current period only.

a. 1

b. 2

c. 3

d. both 1 and 2

5. Which of the following is not required to be disclosed by SFAS No. 131?

a. Information concerning the enterprise’s products.

b. Information related to an enterprise’s foreign operations.

c. Information related to an enterprise’s major suppliers.

d. All of the above are required disclosures.

6. To determine whether a substantial portion of a firm’s operations are explained by its segment information, the combined revenue from sales to unaffiliated customers of all reportable segments must constitute at least

a. 10% of the combined revenue of all operating segments.

b. 75% of the combined revenue of all...